Nordic Tankers to Sell Its Chemical Tankers Business

7:26 AM MDT | April 12, 2012 | Sotirios Frantzanas

Nordic Tankers (Copenhagen) says it has agreed to sell its chemical tankers business for $30 million to a company controlled by private equity firm Triton (Jersey, U.K.). The divestment is considered the best available solution to the company's financial difficulties including its high debt levels, and continuing low freight rates, Nordic says. The transaction is subject to approval at Nordic's annual meeting on April 20, 2012, and from the relevant regulatory authorities, the company says. With the completion of this transaction, Triton will have acquired two...